United States:
FRB Extends Comment Deadline For Proposals To Change Rating System
17 October 2017
Cadwalader, Wickersham & Taft LLP
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The Board of Governors of the Federal Reserve System
("FRB") extended to November 30, 2017 the comment
deadline for two related proposals: (i) one that would change the
ratings system under Reg. YY for large financial institutions so
that it aligns with current supervisory practice and (ii) one to
issue supervisory guidance for boards of directors under the new
ratings system (see
previous coverage for details of the proposals).
Comments on the ratings system proposal originally were due by
October 16, 2017; comments on the board of directors proposal
originally were due by October 10, 2017.
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